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Published On : July-2015
Category : Chemicals & Materials
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BRIC Automotive Plastics Market Forecast to Expand at a CAGR of 15.4% Between 2015 and 2020,
with China Dominating Throughout the Forecast Period
Future Market Insights, a U.K. based global market research firm, announces the release of its latest
report titled, Automotive Plastics Market: BRIC Industry Analysis and Opportunity Assessment 2015
- 2020. According to the report, the BRIC automotive plastics market was valued at US$ 11,244.4
million in 2014, and is projected to register a compound annual growth rate (CAGR) of 15.4% during
forecast period 2015 - 2020.
Automotive plastics are used to manufacture various components such as lighting systems, seating
systems, automotive carpets and upholstery, bumpers, etc. The versatile properties of plastics such as
easy moldability, durability, scratch resistance, thermal stability, impact strength and resistance to
abrasions gives this material an edge over others, making it ideal for manufacturing automobile
components. Apart from this, reduction in manufacturing cost, durability and increased strength of
plastics has encouraged manufacturers to use this material for three major applications in
automobiles such as exterior, interior and under-bonnet components. Manufacturers use plastics for
various components under these three applications including as a substitute for steel in vehicle doors,
bumpers, fenders and other automotive components.
Interior application segment accounted for higher revenue as compared to exterior and under-bonnet
component segments in the BRIC automotive plastics market in 2014. Among all plastic material
types, polypropylene (PP) leads in terms of consumption with 31%, followed by polyurethanes (PU),
acrylonitrile butadiene styrene (ABS) and polycarbonates (PC). This is attributed to the various
properties exhibited such as easy forming and lightweight as compared to metals. The PP segment is
projected to dominate the BRIC automotive plastics market throughout the forecast period due to
increasing penetration of premium cars in the region, whilst ABS is expected to register highest CAGR
among all other plastic materials due to increasing usage in vehicle interiors. The passenger vehicle
segment is expected to register a CAGR of 17%, making it the fastest growing segment when
compared to the commercial vehicle segment. Growth of the aftermarket segment in the BRIC
automotive plastics market is fuelled by replacement of old or damaged parts and increasing number
of vehicle in operation due to increasing cab/rental car services across the globe.
Growth of BRIC automotive plastics market is driven by various factors such as growing demand for
passenger vehicles, rising export of automotive plastics components and stringent government
regulations to control vehicular emissions. In India by the end of 2016, the Bharat Stage-IV vehicle
emission regulations and fuel quality standards is expected to be implemented in 50 major cities.
These norms will prompt Original Equipment Manufacturers to produce more plastic components for
application in vehicles.
Though the market is promising in terms of return on investment (ROI), patents and regulatory
hurdles along with global shift towards bio-based plastic materials could pose a challenge to the BRIC
automotive plastics market.
Browse Full: "Automotive Plastics Market: BRIC Industry Analysis and Opportunity Assessment 2015
- 2020" Market Research Report at http://www.futuremarketinsights.com/reports/details/bricautomotive-plastics-market
The BRIC automotive plastics market is fragmented in nature, with numerous domestic and global
players in the market. This makes it a considerably high growth potential market. Recently, the Indian
government announced the Automotive Mission Plan (AMP) II, 201626 under Make in India
campaign, which is expected to be finalized by the end of 2015. This plan focuses on development of
auto parks, establishment of advanced automotive training institutes and auto design centres. These
factors are expected to fuel growth of the BRIC automotive plastics market over the forecast period.
The report offers insights and analyses key strategies of companies and provides the financial outlook
of the automotive plastic market. The reports covers key players such as Reliance Industries Limited,
Bayer Material Science, BASF, Dow Chemical International Private Limited and also automotive plastic
component manufacturers such as Lear Corporation, Faurecia Pvt. Ltd.
Table of Content
1. Executive Summary
2. Research Methodology and Assumptions
3. Assumptions & Acronyms Used
Table of Content
Table of Content
Table of Content
Table of Content
Table of Content
10.4. Brazil Automotive Plastic Market Size And Forecast, By Application Type
10.4.1. Introduction
10.4.2. BPS Analysis, By Application Type
10.4.3. Brazil Automotive Plastic Market Size And Forecast, By Application Type
10.4.3.1. Interior
10.4.3.2. Exterior
10.4.3.3. Under Bonnet
10.5. Brazil Automotive Plastic Market Analysis and Forecast, By Product Type
10.5.1. Introduction
10.5.2. BPS Analysis, By Product Type
10.5.3. Brazil Automotive Plastic Market Size And Forecast, By Product Type
10.5.3.1. Polypropylene
10.5.3.2. Polyurethane
10.5.3.3. Polycarbonates
10.5.3.4. Polyvinyl Chloride
10.5.3.5. Acrylonitrile Butadiene Styrene
10.5.3.6. Others
Table of Content
11. Competitive Landscape
11.1. Competition Dashboard
11.2. Company Profiles (Details Overview, product portfolio, financials, developments, SWOT
analysis)
11.2.1. Bayer Material Science
11.2.2. Lynodell Basell
11.2.3. Dow Chemicals Company
11.2.4. Polyplastic Group
For more insights on the BRIC Automotive Plastics Market, you can request a report sample with
full TOC at http://www.futuremarketinsights.com/reports/sample/rep-br-81
Thank You!